New Zealand Wool Prices Continue To Rise Recently

In the combined auction of the northern island and the southern island, 93.7% of the 7400 packages of wool available for auction were available.

Since the last auction in August 19th, the exchange rate between New Zealand dollar and major international wool trading currencies has fallen by 1.14%, helping the market to become more stable.

New Zealand wool Service International said that today the price of medium micron wool has increased from stable to 2%, while the price of fine hybrid wool and shearing has increased by 2%-5%.

Crossbred wool basically increased by 2%.

This week's high turnover reflects strong competition at auction.

Buyers from Australia, the Middle East, India and China are at the core.

The buyers from Western Europe and Britain have supported the operation.

Next week's auction will take place in September 2nd. It will take place in Christchurch. The number of wool available for auction is about 1400 bales on the northern island and about 6700 packs on the southern island.